Yahoo Finance Turkey construction equipment market is expected to grow at a CAGR of 6.86%.
The report considers the present scenario of the Spain construction equipment market and market dynamics for 2022?2028. It covers a detailed overview of several growth enablers, restraints, and trends in the market.
New York, May 06, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Turkey Construction Equipment Market - Strategic Assessment & Forecast 2022-2028" - https://www.reportlinker.com/p06272740/?utm_source=GNW
The study includes the volume and value sales with a segment analysis of the Spain construction equipment market.
Turkey construction equipment market is expected to grow at a CAGR of 6.86%.
KEY HIGHLIGHTS
• The construction industry is expected to generate the highest demand in end-users, owing to the "Turkey Eleventh Development Plan 2019-2023" program, which is expected to dominate the construction equipment market over the forecast period.
• The construction equipment market in Turkey is moving to a more innovative industry at a faster rate than other emerging countries throughout the world by switching to intelligent systems driven by IoT and data analysis for service, networking, and sustainability.
• Construction equipment rental companies account for the major market share in Turkey; due to the significant number of SMSEs in Turkey’s construction industry, rental companies are expected to have higher demand than non-rental companies.
• In 2021, the Turkish government has invested $325 billion in infrastructure projects that includes transportation infrastructure, which will increase in demand for earthmoving and road construction equipment. The transport infrastructure projects include $80 billion investment in road construction projects, $30 billion investment in high-speed rail networks, $30 billion in ports, and $30 billion in airport infrastructures. These transport infrastructure projects include the Ankara-Istanbul HSL ($3 billion), Ankara-Sivas-Erzincan HSL ($1.2 billion), Istanbul Big Tunnel ($3.5 billion), and Istanbul’s third airport ($6.9 billion), which are expected to be completed by 2023.
• The Turkey government is implementing measures to reduce the amount of waste in landfills and seas. The government has initiated several waste management programs to reduce the generation of solid waste and promote recycling initiatives. In 2021, Adana (City in Turkey) integrated solid waste management system is carried out by ITC (Invest Trading & Consulting AG). The project covers rehabilitation of existing dumpsite, construction and operation of sorting plant, anaerobic digesters and installation and operation of landfill gas utilization plant. Turkey waste management, due to which the use of construction equipment such as loaders and excavators has increased in the waste management industry.
TURKEY CONSTRUCTION EQUIPMENT MARKET SEGMENTATION
• In 2021, the material handling segment was the largest segment in Turkey construction industry, followed by earthmoving and road construction equipment. The forklift was the largest segment by type. However, an excavator was the fastest-growing major construction equipment in 2021. The demand for excavators is expected to rise due to various government investments in infrastructure development and growth in renewable energy.
Segmentation by Earthmoving Equipment:
• Excavator
• Backhoe Loaders
• Motor Graders
• Other Earthmoving Equipment (Others loaders, Bulldozers, Trenchers)
Segmentation by Road Construction Equipment
• Road Rollers
• Asphalt Pavers
Segmentation by Material Handling Equipment
• Crane
• Forklift & Telescopic Handlers
• Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
Segmentation by End Users
• Construction
• Manufacturing
• Mining
• Others
VENDOR LANDSCAPE
The construction equipment market is consolidated with XCMG emerging as the leader, followed by Komatsu, Caterpillar, Volvo Construction Equipment, Liebherr and SANY. These companies have nearly 59% share of the total Turkey construction equipment market.
Key Vendors
• XCMG
• Caterpillar
• Volvo CE
• Komatsu
• Liebherr
• Hitachi
• JCB
• Sany
• Zoomlion
• Kubota
Other Prominent Vendors
• John Deere
• Hidromex
• Hyundai Doosan Infracore’s
• Yanmar
• Kobelco
Distributors
• ENKA Pazarlama Import Export Inc.
• Maats Construction Machinery Ltd. Sti.
• Kale Makina Pazarlama A.?.
• TSM Global
• Temsa ?? Makinalar?
• HASEL
Read the full report: https://www.reportlinker.com/p06272740/?utm_source=GNW
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